Your quick guide to online gambling with crypto
Here you have it, you’re quick guide to online gambling with crypto. It’s crazy to think how far online gambling has come in such a relatively short space of time. First, there was the launch of the inaugural online casino in the mid-90s. Which broke boundaries and catapulted gambling into a whole new realm. And now, less than thirty years later, we have mobile casinos, live dealer casinos, and even virtual reality casinos too.
The casinos themselves aren’t the only aspect of online gambling that’s transformed though. Games have become more thrilling, software has become more sophisticated. And entertainment has become more engaging with every bet placed. Gambling online with crypto has become so easy. Which is why banking has evolved to encompass a wide range of options to suit every taste and preference – including cryptocurrency.
Every day, online casino players look for ways to bank faster, bank safer, and bank more efficiently. And cryptocurrency checks every one of those boxes and more. So if you’ve been looking for a new way to manage your gaming finances, stick around – we’ll show you why online gambling with crypto could be just the solution you’ve been after.
The advantages of online gambling with crypto
More security
When you’re gambling and banking online, there’s no such thing as too much security. And online gambling with cryptocurrency goes above and beyond with the safety protocols it offers. Traditional banking methods can often be susceptible to hackers or identity fraud – always a risk when personal and financial information is shared online. It’s here where cryptocurrency has an edge, with blockchain technology ensuring that all transactions are encrypted and fully secure. With its decentralised ledger system, the blockchain is almost impossible to hack or manipulate, meaning complete peace of mind for you.
More anonymity when you’re online gambling with crypto
Just as it offers high levels of safety and security, online gambling with crypto offers complete anonymity and privacy as well. Usually when transacting with payment methods such as debit cards, credit cards, e-wallets and more, your personal information will need to be supplied at some point. Not with cryptocurrency! By using a digital wallet to manage your crypto funds. You’ll be able to make online casino transactions without ever revealing your identity. Ensuring that your deposits and withdrawals are always anonymous and discreet. It’s this level of superior privacy that makes crypto a preferred choice for many players. Helping them keep their cards as close to their chest as possible.
More efficiency when you are online gambling with crypto
Time is money, as the saying goes. And the less time you spend waiting for your money, the more time you have to make the most of it. That’s the beauty of online gambling with crypto. By far the fastest way to bank when gambling online. Even the most efficient bank transfer or credit card transaction can take days to process, particularly when requesting a withdrawal – time that could otherwise be spent actually using the money won online. By contrast, crypto deposits and withdrawals are most often approved in minutes, giving you instant access to your money and more financial control. What’s more, reduced processing time means reduced transaction fees, making crypto a more affordable choice as well. Save time, save money, bank with crypto!
Common online gambling cryptocurrencies
So now that you know WHY people are choosing to online gamble with crypto. Exactly WHICH currencies are they using? Here’s a quick look at the top three:
Bitcoin (BTC)
It’s the first and most well-known cryptocurrency, and it’s just as popular in online gambling circles as well. Created in 2009 by the anonymous individual (or group) known as Satoshi Nakamoto. Bitcoin was the first cryptocurrency to introduce us to the idea of the blockchain. And one of the main reasons why online gambling with crypto is even a thing today. A digital ledger or database that records and verifies online transactions. It’s accepted worldwide, it’s highly secure, and it’s become virtually synonymous with cryptocurrency itself – small wonder that it’s one of the most preferred online gaming cryptocurrencies as well!
Never used Bitcoin before? There’s nothing to be worried about – it’s just as easy to transact with as regular debit/credit card or e-wallet options. Simply set up your Bitcoin wallet through any of the online platforms available, purchase your Bitcoin from a reputable crypto exchange, and transfer it from your wallet straight into your casino account. It’s fast, it’s anonymous, and it’s affordable too – everything you want in a banking option!
Ethereum (ETH)
Want a cryptocurrency that’s more than just crypto? Then you want Ethereum. The cryptocurrency that also acts as a decentralized platform. Allowing for the creation of smart contracts and decentralized applications (dApps). Launched in 2015 by Vitalik Buterin, Ethereum offers speedy transactions that take place in just seconds. As well as premium security and transparency through its ingenious smart contract capability. It’s this functionality that allows users to transact without a central authority or intermediary, ensuring that transactions and contract terms are executed automatically. You’ll save time thanks to self-executing programs, and you’ll have greater transparency with verified, trackable transactions.
Just as with Bitcoin, in order to use and transact with Ethereum, you’ll need a crypto wallet first. Once you’ve set this up, you’ll be able to purchase Ethereum and transfer it between your wallet and your gaming account for safe, speedy online casino banking.
Litecoin (LTC)
As you might guess by its name, Litecoin was designed as a ‘lighter’ alternative to Bitcoin. A more agile and flexible cryptocurrency offering faster transaction times and lower fees by comparison. Created by MIT graduate Charlie Lee in 2011, Litecoin is ideal for online gambling transactions thanks to its speed and cost efficiency. It’s the preferred cryptocurrency for smaller payments, due to its low cost payments. So if you’re looking to make a series of smaller deposits and have them processed quickly and efficiently, Litecoin could be the solution for you.
Similar to Bitcoin and Ethereum, Litecoin is just as easy to use and transact with. Simply set up your digital wallet, purchase your Litecoin through a verified exchange, and you’ll be able to make casino deposits and withdrawals quickly and easily. No stress, no fuss, just simple, affordable crypto transactions for a premium online gambling experience!
Using cryptocurrency to make online gambling transactions
Ok, so you know why people use crypto when gambling online, and you’ve learned a little more about a few of the preferred crypto options available. Now what?
Now it’s time to put that knowledge into practice by actually making crypto transactions at your online casino! Just follow these easy steps and you’ll be on your way to winning:
Set up your digital wallet
As we explained when running through various popular cryptocurrencies, the first step to making crypto deposits and withdrawals is setting up your digital wallet. Not unlike a Neteller or Skrill e-wallet, a digital wallet allows you to store, send and receive cryptocurrency quickly and easily. Via a software application. With a range of options available, such as web wallets, mobile wallets, desktop wallets and hardware wallets. Each one comes with its own distinct benefits. Simply choose the one that’s safest and most convenient for you. And you’ll be on your way to hassle-free crypto transactions.
Purchase cryptocurrency
The next step in the process is to actually purchase the cryptocurrency you want to play with. This you’ll need to do through a crypto exchange, such as Coinbase, Binance, Kraken or more. Just choose an exchange, create and verify an account for yourself, then link it to your bank account or credit card. You’ll then be able to purchase cryptocurrency through the exchange. And store it into your digital wallet.
Make an online casino deposit
You can really start your online gambling with crypto journey. If you’ve made casino deposits before with other traditional payment methods, making deposits with cryptocurrency follows essentially the same process. Just visit the casino cashier or banking section at your online casino, select your cryptocurrency of choice and enter the amount you’d like to deposit. Your casino will then give you a unique wallet address for your transaction. Enter this information into your digital wallet, confirm your transaction, and your funds should reflect in your casino account almost instantly.
Make an online casino withdrawal
Want to withdraw your winnings from your casino account? You’ll find crypto withdrawals just as easy as deposits! Visit the withdrawal section of your casino bank or cashier, select your cryptocurrency, and enter the amount you’d like to withdraw from your casino account. The casino will then request your wallet address, which you’ll be able to copy and paste over from your digital wallet. Once the transaction confirms, your casino funds transfer into your wallet within minutes.
As you can see, there are a number of distinct benefits to using cryptocurrency for online gambling transactions. It’s affordable, it’s secure, and it’s fast – all distinct advantages to casino players who prize speed and efficiency. So if you’re new to the world of crypto, it might be worth sticking around for a while. Do a little research of your own, see if it’s a payment option you can get on board with, and start reaping the benefits for yourself today. Time is money, and you could soon be enjoying more of both!